Employees must have the opportunity to move past today's financial challenges, relieve the stress and the worry so they can think about saving for the future. (Photo: Shutterstock)
According to a 2018 study by Northwestern Mutual, 21 percent of Americans have no retirement savings and an additional 10 percent have less than $5,000 in savings. A third of Baby Boomers currently at, or approaching, retirement age have between zero and $25,000 set aside. The Economic Policy Institute (EPI) paints an even bleaker picture, reporting that “nearly half of families have no retirement account savings at all.”
Most Americans are far from the levels necessary for a healthy retirement. This data makes a recent GOBankingRates savings survey response even more interesting: “The number one thing Americans are saving for is retirement.” Hard-working Americans want to save—it is our responsibility to put them in a position to do it.
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